Chesapeake Utilities (NYSE:CPK) Cut to Sell at StockNews.com

StockNews.com downgraded shares of Chesapeake Utilities (NYSE:CPK) from a hold rating to a sell rating in a report issued on Thursday.

Separately, Guggenheim lifted their price target on shares of Chesapeake Utilities from $118.00 to $129.00 and gave the stock a “neutral” rating in a report on Friday, November 22nd.

Chesapeake Utilities Stock Up 0.3 %

CPK stock opened at $126.70 on Thursday. Chesapeake Utilities has a 1-year low of $98.32 and a 1-year high of $134.20. The stock has a market cap of $2.89 billion, a P/E ratio of 25.70 and a beta of 0.65. The stock’s fifty day simple moving average is $122.24 and its two-hundred day simple moving average is $122.41. The company has a current ratio of 0.38, a quick ratio of 0.32 and a debt-to-equity ratio of 0.87.

Chesapeake Utilities (NYSE:CPK) last posted its quarterly earnings results on Wednesday, February 26th. The utilities provider reported $1.63 earnings per share for the quarter, missing the consensus estimate of $1.67 by ($0.04). The company had revenue of $215.00 million for the quarter, compared to the consensus estimate of $237.84 million. Chesapeake Utilities had a net margin of 14.16% and a return on equity of 9.08%. During the same quarter in the previous year, the company posted $1.64 EPS. Analysts expect that Chesapeake Utilities will post 5.39 EPS for the current year.

Chesapeake Utilities Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 7th. Shareholders of record on Friday, March 14th will be issued a dividend of $0.64 per share. This represents a $2.56 annualized dividend and a yield of 2.02%. The ex-dividend date of this dividend is Friday, March 14th. Chesapeake Utilities’s dividend payout ratio (DPR) is presently 48.58%.

Institutional Trading of Chesapeake Utilities

Hedge funds and other institutional investors have recently modified their holdings of the business. Federated Hermes Inc. boosted its holdings in Chesapeake Utilities by 587.1% in the 4th quarter. Federated Hermes Inc. now owns 213 shares of the utilities provider’s stock worth $26,000 after buying an additional 182 shares during the period. Versant Capital Management Inc boosted its holdings in shares of Chesapeake Utilities by 2,018.2% in the fourth quarter. Versant Capital Management Inc now owns 233 shares of the utilities provider’s stock worth $28,000 after acquiring an additional 222 shares during the period. Quantbot Technologies LP bought a new position in shares of Chesapeake Utilities in the fourth quarter worth $50,000. Assetmark Inc. grew its position in shares of Chesapeake Utilities by 19.2% in the third quarter. Assetmark Inc. now owns 634 shares of the utilities provider’s stock valued at $79,000 after purchasing an additional 102 shares in the last quarter. Finally, Sterling Capital Management LLC raised its stake in shares of Chesapeake Utilities by 805.2% during the 4th quarter. Sterling Capital Management LLC now owns 697 shares of the utilities provider’s stock valued at $85,000 after purchasing an additional 620 shares during the period. Institutional investors own 83.11% of the company’s stock.

Chesapeake Utilities Company Profile

Chesapeake Utilities Corporation operates as an energy delivery company. The company operates through two segments, Regulated Energy and Unregulated Energy. The Regulated Energy segment natural gas distribution operations in central and southern Delaware, Maryland's eastern shore, and Florida; regulated natural gas transmission in the Delmarva Peninsula, Ohio, and Florida; and regulated electric distribution in northeast and northwest Florida.